I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
Short-term forecast for oil, gold, and euro-dollar today. The euro price reached the first buy target yesterday.
The article covers the following subjects:
Major Takeaways
- Oil (USCrude) is trading within a short-term downtrend.
- Gold (XAUUSD) is declining from resistance (В) 3,372–3,360.
- EURUSD is testing a short-term uptrend’s key support at 1.1625 – 1.1605.
Oil Price Forecast for Today: USCrude Analysis
Oil continues trading in a short-term downtrend. The primary sell target is the June low near 63.70. Thus, it is currently profitable to hold the remaining short positions from resistance (B) at 68.25–67.33. If the price consolidates below the June low, the decline may continue toward the lower target zone at 61.61–61.01.
If the price starts rising and breaks above 68.25, the short-term trend will reverse to bullish. In that case, long positions may be considered starting from the next trading day, with the main target in the upper target zone at 72.78 – 71.95.
USCrude Trading Ideas for Today:
Hold a part of shorts near resistance (В) 68.25 – 67.33. TakeProfit: 63.70. StopLoss: breakeven
Gold Forecast for Today: XAUUSD Analysis
Yesterday, gold tested a short-term downtrend’s key resistance at 3,372 – 3,360. The zone was held by sellers, and the price is declining today. The first downside target is 3,310. If the price consolidates below this level, the next target will be 3,248.
To buy the asset and reverse the trend, traders must break above 3,372 and consolidate positions above it. In that case, long positions may be considered starting from the next trading day, targeting the upper target zone at 3,495 – 3,473.
XAUUSD Trading Ideas for Today:
Hold shorts near resistance (В) 3,372 – 3,360. TakeProfit: 3,310, 3,248. StopLoss: 3,394.
Euro/Dollar Forecast for Today: EURUSD Analysis
Yesterday, market participants tested support (B) at 1.1625–1.1605. The zone held, leading to a price increase and reaching the first buy target at 1.1717. After that, the price started to decline, and the remaining long positions were closed at breakeven.
Today, euro traders are trying to reverse the short-term trend to bearish by breaking through 1.1605 and consolidating positions below it. If they succeed, selling the instrument could be considered starting from the next trading day. The target for short positions in this case will be the lower target zone at 1.1421–1.1381.
If support (B) holds during today’s session, new buy opportunities may be considered, with the first target at 1.1717 and the second target around 1.1829.
EURUSD Trading Ideas for Today:
Watch the market.
Would you like to learn more about technical analysis methods and principles? Explore our comprehensive guide.
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Price chart of EURUSD in real time mode
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